Floater insurance is a special insurance program intended to complement the university’s all-risk property insurance. It provides replacement cost coverage for department property that has a high incident rate of theft and/or damage. There is no deductible for losses sustained under the floater insurance program. Losses are paid based on the full repair or replacement cost of the item.

What Is Covered

The Floater Insurance program will cover items valued up to $50,000.  Items valued over $50,000 are covered under the university’s all-risk property insurance program.  Examples of covered losses include, but are not limited to, theft, accidental breakage and water damage.  The Floater does not cover normal wear and tear, equipment malfunction not associated with a covered peril, maintenance costs or simple inventory shrinkage.  This program should not be confused with a warranty program offered by manufacturers as the coverages may vary.

Obtaining Coverage

Unlike coverage under the university’s blanket property insurance, coverage under floater insurance is not automatic.  Coverage becomes effective after a department has created an access request by visiting https://floaterinsurance.wustl.edu/  and adding the items they would like to insure.

Cost of Coverage

There is a premium charge of 50 cents per $100 value, based on the purchase price of the item, for each item insured under the floater. The department will be charged for this premium via journal entry at the end of each fiscal year. Premiums are subject to change.  Notification of changes in cost of coverage will be in the Alert section of the Floater Insurance website.

Filing a Claim

To file a claim, complete the property loss notice form.

Got Questions?

Contact Tracy Merton

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